Corporate earnings, buybacks and M&A lead market moves

RELX PLC launched a new non‑discretionary share buyback programme of £450 million, running from 12 February to 20 March 2026 as part of a broader £2.25 billion repurchase plan for 2026. The company said the repurchased shares will be held in treasury to reduce capital, with UBS AG London Branch managing the programme within shareholder‑approved parameters.

In U.S. markets, Cboe Global Markets declared a first‑quarter 2026 cash dividend of $0.72 per share, payable 13 March 2026 to shareholders of record on 27 February. Cboe noted it has maintained dividends for 16 consecutive years and raised them for 11 straight years, following what it described as solid Q4 2025 earnings.

Leidos Holdings’ board approved a quarterly dividend of $0.43 per share, payable 31 March 2026 to shareholders of record on 16 March. The technology and services provider said it has paid dividends for 14 years and increased its payout for the past seven, alongside reporting approximately $16.7 billion in annual revenue.

Rivian Automotive shares surged about 27%, closing at $17.73, after the EV maker reported Q4 2025 revenue of $1.3 billion and a gross profit of $120 million, ahead of expectations for roughly break‑even gross profit on $1.2 billion of sales. Management guided to more than a 50% increase in 2026 deliveries and highlighted its upcoming R2 SUV, with a starting price around $45,000 to be detailed on 12 March.

Fastly rose nearly 14% to $18.26 after posting record Q4 results and issuing stronger‑than‑expected 2026 guidance. Revenue grew 23% year over year to $172.6 million, adjusted EPS reached $0.12 and GAAP losses narrowed. The company forecast 2026 revenue of $700 million to $720 million and emphasised AI‑related edge traffic and new cloud partnerships as key drivers.

Specialty insurer Kinsale Capital Group reported Q4 2025 revenue of $483.27 million, up 17.3% from a year earlier, and EPS of $5.81 versus $4.62. Both revenue and earnings topped consensus, with EPS beating by 9.59%. Key underwriting metrics also outperformed analyst estimates, including a combined ratio of 71.7% versus 75.2% expected.

Iron Mountain reached a 52‑week high of $108.18 after Q4 2025 revenue rose 17% year over year to $1.84 billion and EPS came in at $0.61, slightly above forecasts. The company said the results, and the stock’s 14.14% one‑year gain, reflected successful strategic initiatives and investor confidence.

Funko amended and extended its existing credit agreement, pushing the maturity of its loans from 17 September 2026 to 31 December 2027 and modifying certain financial covenants and pricing. The company said the revised facility, led by JPMorgan Chase as administrative agent, provides additional financial strength and flexibility as growth initiatives progress.

Skyline Builders Group Holding completed concurrent private placements of Series B preferred shares, issuing 6,322 shares for about $31.59 million in gross proceeds. Roughly $26.59 million was raised from U.S. accredited investors under Regulation D and $5 million from non‑U.S. investors under Regulation S. Each preferred share is convertible into Class A ordinary shares at $2.40 per share, subject to anti‑dilution adjustments, and placement agents received warrants equal to 6% of the underlying Class A shares.

Sysco Corporation raised approximately $1.24 billion through new unsecured senior notes maturing in 2031 and 2036. The food‑service distributor said it plans to use the proceeds for general corporate purposes, including refinancing short‑term debt and optimising its capital structure.

Atlas Energy Solutions secured a $375 million lease facility from Eldridge Capital Management to finance behind‑the‑meter power generation assets, following its 2025 acquisition of Moser Energy Systems. The company said the facility supports an integrated power platform build‑out, while noting recent board turnover and ongoing losses as it invests in the capital‑intensive model.

Humana’s CenterWell Senior Primary Care completed the acquisition of MaxHealth from Arsenal Capital Partners and founder‑shareholders. MaxHealth operates 54 owned primary care clinics, four specialty or ancillary clinics and 24 affiliate clinics in Florida, serving over 120,000 patients, including more than 80,000 in value‑based care programs. CenterWell said the deal expands its senior‑focused network into new markets.

BARK’s board special committee provided an update on its review of strategic alternatives, including a preliminary, non‑binding proposal from Great Dane Ventures and affiliated shareholders to acquire the outstanding shares they do not own for $0.90 per share in cash. The committee said it is evaluating all proposals and standalone value, requiring confidentiality and standstill agreements for bidders and noting there is no assurance a definitive transaction will occur.

Ryerson and Olympic Steel reported the closing of their previously announced merger, with Ryerson acquiring Olympic Steel. Terms were not detailed in the summary, but the combined entity will operate in metals processing and distribution.

North American Niobium and Critical Minerals entered a three‑month marketing services agreement with Gold Standard Media for $350,000, aiming to broaden visibility of its critical minerals exploration assets in British Columbia and Quebec. Affiliates of the marketer hold one million stock options in the company.

Workday announced that co‑founder Aneel Bhusri is returning as chief executive officer after two years as executive chair, following share price declines of more than 20% year‑to‑date and roughly 39% since early 2025. Commentary around the change highlighted the challenge of integrating recent AI‑focused acquisitions and converting them into differentiated, scalable products amid intensifying competition from Oracle and SAP.

Tesla’s strategy and timelines for humanoid robots and robotaxis drew scrutiny in an interview with investor Ross Gerber. He argued that Tesla is “a long way off” from functional humanoid robots capable of human‑level dexterity and questioned projections of near‑term profits from robotics compared with Tesla’s existing EV business, citing technical hurdles in replicating human hands, skin and vision and constraints in memory chip supply.

Separate analysis of Tesla’s leadership noted recent executive turnover tied to AI infrastructure and global sales, including the exit of a key AI infrastructure leader and the appointment of a new global head of sales. Observers linked the reshuffle to Tesla’s push into AI‑driven services, robotaxis and its Optimus humanoid robot while EV demand moderates and capital spending rises.

In generative AI competition, data analysed by BNP Paribas indicated that Anthropic’s Super Bowl advertisement, which criticised OpenAI’s introduction of ads to ChatGPT, led to a 6.5% rise in site visits and an 11% jump in daily active users for its Claude chatbot. The ad pushed Claude into the top 10 free apps on Apple’s App Store and outpaced post‑game user gains reported for ChatGPT and Google’s Gemini, though Claude’s overall user base remains smaller.